Crime Insurance
Commercial crime coverage is generally intended to respond to losses from theft, fraud, and employee dishonesty — whether the loss is to your own business or to a client.
Two exposures, two parts of the policy
An employee steals from your business
Employee dishonesty / fidelity coverage is generally intended to respond when an employee takes money, securities, or property from your own company — for example, payroll fraud or skimming from the register.
An employee steals from a client
Third-party crime coverage is generally intended to respond when an employee steals from a customer while performing work for you — a common requirement for cleaners, caregivers, and other in-home or on-site service businesses.
Also generally intended to address
- ✓ Forgery or alteration of checks and financial instruments
- ✓ Theft of money and securities, on or off premises
- ✓ Funds-transfer fraud and certain computer-fraud schemes (where included)
Frequently asked questions
What is commercial crime insurance?
Crime insurance is generally intended to respond to financial losses from theft, fraud, forgery, and employee dishonesty. It is built around losses caused by people — your own employees or outside parties — rather than physical perils like fire.
What is the difference between first-party and third-party crime coverage?
First-party coverage (employee dishonesty / fidelity) is generally intended to respond when an employee steals money, securities, or property from YOUR business. Third-party coverage is generally intended to respond when an employee steals from a CLIENT or customer while working on your behalf — an exposure many service businesses are asked to carry by contract.
Does general liability cover employee theft?
No. General liability addresses third-party bodily injury and property damage, not theft or dishonesty by employees. Those exposures are addressed by crime / fidelity coverage. Review your policy and confirm with a licensed insurance professional.
Who needs crime insurance?
Businesses that handle cash, client funds, or valuable property — and service businesses that send employees into customers' homes or offices — commonly carry it. Cleaning, home services, financial offices, and retailers are frequent examples; clients often require third-party coverage by contract.
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